Currency in circulation in Nigeria reached N5.73 trillion in 2025, up from N5.44 trillion the previous year, driven by the issuance of 3.43 billion new banknotes.
The Central Bank of Nigeria (CBN) disclosed that the Nigerian Security Printing and Mint Company produced the notes to meet domestic demand.
The expansion of the physical money supply comes as investors monitor inflationary pressures in Africa’s largest economy.
A growing base of circulating currency can fuel price increases if not matched by equivalent growth in economic output or foreign reserves.
The CBN’s decision to print billions of notes suggests persistent liquidity needs in the real economy, even as the central bank manages broader monetary policy.
Nigeria recorded foreign exchange inflows of $109.86 billion in 2025, according to CBN data.